SiteOne Landscape Supply, Inc. (NYSE:SITE) Files An 8-K Entry into a Material Definitive Agreement
Item1.01. Entry into a Material Definitive Agreement.
SiteOne Landscape Supply, Inc. (the Company) announced today that
certain of its subsidiaries have entered into the Second
Amendment to Amended and Restated Credit Agreement, dated as of
May24, 2017 (the Second Amendment), by and among SiteOne
Landscape Supply Holding, LLC (Holding) and SiteOne Landscape
Supply, LLC, as borrowers (collectively, the Borrowers), UBS AG,
Stamford Branch, as administrative agent and collateral agent,
the several banks and other financial institutions party thereto
and certain other parties party thereto from time to time, which
amends the Amended and Restated Credit Agreement, dated as of
April29, 2016, as amended on November23, 2016 (the Term Loan
Facility), by and among the Borrowers, UBS AG, Stamford Branch,
as administrative agent and collateral agent, the several banks
and other financial institutions party thereto and certain other
parties party thereto from time to time, in order to, among other
things, add an additional credit facility under the Term Loan
Facility consisting of additional term loans (the Tranche C Term
Loans) in an aggregate principal amount of $299,493,729.43.
Proceeds of the Tranche C Term Loans were used to repay in full
the term loans outstanding under the Term Loan Facility
immediately prior to effectiveness of the Second Amendment (the
Existing Term Loans) and pay fees and expenses in connection with
the Second Amendment.
The Existing Term Loans bore interest, at Holdings option, at
either (i)an adjusted LIBOR rate plus an applicable margin equal
to 4.50% or (ii)an alternative base rate plus an applicable
margin equal to 3.50%. The Tranche C Term Loans bear interest, at
Holdings option, at either (i)an adjusted LIBOR rate plus an
applicable margin ranging from 3.25% to 3.50% or (ii)an
alternative base rate plus an applicable margin ranging from
2.25% to 2.50%. Voluntary prepayments of the Tranche C Term Loans
are permitted at any time, in minimum principal amounts, without
premium or penalty, subject to a 1.00% premium payable in
connection with certain repricing transactions within the first
six months after the date of the initial funding of the Tranche C
Term Loans. Like the Existing Term Loans, the Tranche C Term
Loans will mature on April29, 2022. The other terms of the
Tranche C Term Loans are generally the same as the terms
applicable to the Existing Term Loans.
The Company also announced today that certain of its subsidiaries
have entered into the Omnibus Amendment, dated as of May24, 2017
(the Omnibus Amendment), by and among the Borrowers, UBS AG,
Stamford Branch, as administrative agent and collateral agent,
the several banks and other financial institutions party thereto
and certain other parties party thereto from time to time, which
amends, among other things, the Credit Agreement, dated as of
December23, 2013, by and among the Borrowers, UBS AG, Stamford
Branch, as administrative agent and collateral agent, the several
banks and other financial institutions party thereto and certain
other parties party thereto from time to time, in order to, among
other things, update certain provisions relating to secured cash
management and hedging obligations.
Item2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement
of a Registrant
The information
contained in Item 1.01 concerning the Companys direct financial
obligations under the Second Amendment and the Omnibus Amendment
is hereby incorporated herein by reference.
Item9.01
Financial Statements and Exhibits.
(d)Exhibits
|
ExhibitNo. |
Description |
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| 10.1 |
Second Amendment to Amended and Restated Credit Agreement, dated as of May24, 2017, by and among SiteOne Landscape Supply Holding, LLC (f/k/a JDA Holding LLC), SiteOne Landscape Supply, LLC (f/k/a John Deere Landscapes LLC), UBS AG, Stamford Branch, as administrative agent and collateral agent, the several banks and other financial institutions party thereto and certain other parties party thereto from time to time. |
|
| 10.2 |
Omnibus Amendment, dated as of May24, 2017, by and among SiteOne Landscape Supply Holding, LLC (f/k/a JDA Holding LLC), SiteOne Landscape Supply, LLC (f/k/a John Deere Landscapes LLC), UBS AG, Stamford Branch, as administrative agent and collateral agent, the several banks and other financial institutions party thereto and certain other parties party thereto from time to time. |
About SiteOne Landscape Supply, Inc. (NYSE:SITE)
SiteOne Landscape Supply, Inc. is a national wholesale distributor of landscape supplies in the United States and Canada. The Company is a supplier of irrigation, landscape lighting, hardscapes, lawn care supplies, nursery stock, and landscape accessories to green industry professionals. As of October 2, 2016, the Company had over 450 stores. The Company offers a selection of fertilizer and control products, such as herbicides, irrigation supplies, landscape accessories, nursery goods, hardscapes, including pavers, natural stones and blocks, and outdoor lighting products. The Company’s customers are primarily residential and commercial landscape professionals specializing in the designing, installation and maintenance of lawns, gardens, golf courses and other outdoor spaces. The Company offers various products, such as spreader settings, LESCO equipment specification sheets, golf course supplies, seed: golf and greentech specification binder. SiteOne Landscape Supply, Inc. (NYSE:SITE) Recent Trading Information
SiteOne Landscape Supply, Inc. (NYSE:SITE) closed its last trading session down -0.34 at 50.34 with 319,970 shares trading hands.